Lake Station gained a new light industrial business Thursday, but won’t reap tax benefits for 10 years.

Mike Aurelio, of Aurelio IV LLC, of Griffith, said work would begin soon to construct light industrial buildings at 968 Ripley St.

At its Aug. 14 meeting, the city council designated the site, between U.S. 20 and the Indiana Toll Road on the west side of Ripley, as an economic revitalization area for a period of 20 years.

That resolution stated the totality of benefits from the new development, including employee salaries, was sufficient to grant the 10-year abatement.

Aurelio said he typically constructs initial buildings on speculation and offers them to companies for rent.

“These types of projects are more difficult these days with interest, materials and labor high. I think we’l

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